Thai parliament to deliberate casino Bill next month
Successive governments have been pressing the case to build casinos that will attract more foreign visitors and create jobs and state revenue
[BANGKOK] Thai lawmakers will begin deliberating a draft law for casinos and entertainment complexes next month, a deputy finance minister said on Wednesday (Jun 4), as the government moves ahead with a plan to develop the gambling sector and draw in more tourists.
Gambling is mostly banned in Thailand, apart from the lottery, state-controlled horse racing and some other sports. But successive governments have been pressing the case to build casinos that will attract more foreign visitors and create jobs and state revenue.
“The government will create a comprehensive law and prevent negative impact,” minister Julapun Amornvivat told a press conference.
“The country needs change, it needs a new engine of growth for the economy,” he said, adding that the Bill should be finalised within the term of the current government, which ends in two years. The draft law was approved by Cabinet in March and placed tough restrictions on locals, including a 5,000 baht (S$197.25) entry fee and evidence showing at least 50 million baht in bank deposits, which rules out the majority of the population.
The South-east Asian nation will enforce rules for responsible gaming, including a ban on casino advertisements and denial of entry for individuals deemed to carry “financial risks,” said Suksit Srichomkhwan, deputy secretary-general to Prime Minister Paetongtarn Shinawatra.
Thailand’s gaming regulations will be modelled on Singapore, Japan and the United Arab Emirates, which limit the number of licences and require mega investments, Suksit told a briefing in Bangkok on Wednesday. Each entertainment complex in Thailand will require a minimum investment of US$3 billion, he said.
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After it is approved by the lower house, it would need to be passed by the Senate before it is sent to the king for endorsement.
The government, led by the populist Pheu Thai party, hopes to attract at least US$3 billion in new investment in casinos and entertainment complexes, and expects a boost in foreign tourist arrivals by up to 10 per cent.
Though most gambling activities have been outlawed in Thailand, illegal operations have endured for years.
Tourism is a key driver in Thailand, South-east Asia’s second-largest economy, and the government forecasts 37 million foreign arrivals this year. Before the pandemic in 2020, arrivals hit a record of nearly 40 million. REUTERS, BLOOMBERG
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